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SC Department of Insurance Bulletin Update

The South Carolina Department of Insurance (SCDOI) has posted Bulletin 2019-01, regarding the extension of transitional policies. The purpose of the bulletin is to update health insurance issuers of the Department’s plan to continue allowing renewals of coverage pursuant to the latest Center for Consumer Information and Insurance Oversight (CCIIO) guidance and to affirm that prior bulletins on this matter remain in effect. This bulletin applies to health insurance issuers offering non-grandfathered health insurance coverage in the individual or small group markets for which coverage has continuously been in effect since December 31, 2013.

The SCDOI will continue to decline to enforce the 2014 market reforms that the federal government does not enforce for these specific policies. It will instead enforce state laws during this transitional period extension.

The transitional policy permits issuers in the individual and small group markets to renew non-grandfathered policies that had plan or policy years beginning on or before December 31, 2013. Such coverage may now be renewed for plan or policy years beginning on or before October 1, 2020, so long as all policies end by December 31, 2020. Accordingly, health insurance issuers may early renew or amend the coverage term in order to permit consumers and small employers to maintain such coverage until December 31, 2020.

Health insurance issuers electing to renew coverage pursuant to this bulletin are reminded to review prior bulletins (linked in the current bulletin) in their entirety in order to ensure compliance with the relevant transitional relief guidelines outlined therein.